Maple Leaf Cement submits intention to acquire 38% of Agritech

By MG News | Category Equity | November 06, 2024 at 03:32 PM GMT+05:00

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November 06, 2024 (MLN): Maple Leaf Cement Factory Limited (PSX: MLCF) has submitted a public intention to acquire 37.86% shares (i.e. 160,762,209 shares) of Agritech Limited (PSX: AGL)

MLCF shared the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.

Next Capital Limited, as the manager to the offer, submitted the public announcement of offer on behalf of MLCF.

It is pertinent to mention that the offer constitutes a competitive bid by MLCF in relation to the public announcement of offer published in newspapers by Fauji Fertilizer Company Limited (PSX: FFC) on October 25, 2024.

FFC's public offer aims to acquire up to 151,052,013 ordinary shares at a price of Rs38.84 per share.

In response, this offer by MLCF is being made at both a higher price and for a larger number of shares in compliance with section 120 of the Act.

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